Spending Money: Needs vs. Wants

Let’s face it: Most people spend way too much money on things they don’t really need. The more money we make, the more we tend to spend. This endless cycle of materialism has led many people to confuse the word “need” with the word “want.” As in, “we need a big-screen TV for our new [...]

Abundance vs. Scarcity

Three premises of scarcity thinking are: “there isn’t enough”, ‘more is better”, and “that’s just the way it is.” We start to learn the Theory of Scarcity very early in life. There are only five slots open for the junior high cheerleading squad or for the starting lineup on the basketball team. This [...]

August 2006 Net Worth Snapshot

I’m a bit late in posting the numbers for August, but here they are. We managed a small gain for the month although as you can see we spent more of the money in our banks than we put in. Most of this was due to tuition and associated expenses ($225 for one [...]

Currency Trading

Although the foreign exchange (also known as “forex” or “FX”) is the largest financial market in the world, it is relatively unfamiliar terrain to retail traders. However the big slide in the U.S. dollar since early in 2002 has opened the eyes of many investors to the global currency markets. Until the popularization of internet [...]